Blockchain
Brainstem brings Web3 fitness trackers to the Economy of Things on peaq
peaq, the Web3 network powering the Economy of Things, announces the expansion of its ecosystem as Brainstem Digital Health joins in to decentralize health data distribution. Brainstem is a scalable decentralized platform for collecting health data from wearable devices. Integration with peaq will see its devices outfitted with self-sovereign peaq IDs, which will be used to sign the data for authentication. Brainstem will also enable the community to monetize their health data on peaq’s instance of the Gaia-X data marketplace. Health wearables will make up a decentralized physical infrastructure network (DePIN) for gathering privacy-first health data on peaq.
The fitness and health tracker market is growing rapidly and will soar to $187.2 billion by 2032, according to Market.us. Health data collected on wearable devices is becoming increasingly valuable as AI rapidly transforms the healthcare landscape. However, legacy technological solutions and approaches represent a challenge to the sector. The Web2 healthtech industry has already produced such stories as hackers getting access to users’ GPS data and a fitness app revealing the locations of US military bases. Web3 privacy preservation will be a critical component that safeguards against risky Web2 data collection practices.
Brainstem is working to bring Web3 data handling to the health and fitness tracker market using the DePIN model, which crowdsources real-world hardware through token incentives. Its wearables will facilitate the collection of heart rate, heart rate variability, pulse oximetry, movement, blood pressure, and ultimately a range of other health metrics. Brainstems users who opt to share their anonymized data will earn rewards in crypto while providing researchers focusing on wellbeing with valuable data. This ecosystem will work as a global DePIN for collecting and monetizing privacy-first health data.
The integration with peaq will enable Brainstem to achieve this by leveraging peaq’s machine-oriented Web3 tools and functions. As a first step, Brainstem will link its app with the peaq network’s testnet. It will also add support for wallets compatible with peaq and update the app’s interface to work with them. Brainstem will outfit all of the wearables in its DePIN with decentralized peaq IDs, which the devices will use to sign the data they collect. Finally, it will enable the community to share and monetize their data on peaq’s instance of the Gaia-X data marketplace. Brainstem users will also be able to earn extra rewards from peaq’s mechanism redistributing a fraction of the network fees between connected device owners.
The Gaia-X market integration will connect the Brainstem DePIN with the EU-backed project bringing top enterprises, research institutions, and Web3 startups together. Gaia-X is working toward ensuring Europe’s digital sovereignty and moving the tech space toward more transparency and privacy. As part of moveID, a Bosch-led project in the Gaia-X 4 Future Mobility family, peaq is co-creating the standards and infrastructure for connected mobility of tomorrow.
“Health and Fitness trackers are capable of collecting troves of accurate, objective data that can help inform healthcare and wellness professionals and researchers, but this shouldn’t come at the expense of privacy,” says Brainstem’s co-founder Max Campbell. “We are changing the paradigm by providing a tool that empowers individuals and gives them full control and ownership over their data. peaq is a perfect home for our project thanks to its DePIN focus and device-centric features and economics that will enable us to build and scale fast.”
“The AI revolution has a lot in store for health and wellness, but it needs quality and privacy-compliant data for that,” says Till Wendler, co-founder of peaq. “Brainstems solves this puzzle by leveraging the Web3 stack. We are excited to see it join the peaq ecosystem and are confident it will bring a lot of value to the community.”
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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